Samsung has extended its lead in the global TV market during Q1 2020. Amid the COVID-19 lockdown, the company’s market share hit an all-time high, according to the latest numbers. The South Korean TV giant accounted for 32.4 percent of the world’s TV market in terms of value. This number was up 3.1 percent from Q1 2019 and 0.1 percent up from Q4 2019. Samsung has been the world’s number 1 TV maker for 14 years in a row.
The company’s market share in Europe and North America reached 41.1 percent and 42.5 percent, respectively. Analysts say that Samsung got a boost due to higher sales of its QLED TVs and other premium TVs. The South Korean firm shipped 10.8 percent more QLED TV units during the quarter, resulting in a value of $2.05 billion. Samsung’s market share in the 75-inch (or up) TV segment was 50.4 percent.
Samsung’s primary rival LG had a market share of 18.7 percent in terms of value during Q1 2020, up 2.2 percent from Q1 2019. The South Korean TV makers clinched back the world’s number one spot from Chinese TV brands, who were on top during Q3 and Q4 of 2019. Samsung topped the global TV market with a market share of 30.9 percent, while LG and Sony came in second and third with 16.3 percent and 9.4 percent, respectively.
According to market research firm Omdia (formerly IHS Markit), global TV shipments plunged 10.2 percent year-on-year to 46.5 million units during the first quarter of this year. Moreover, the value of TVs sold globally in Q1 2020 dropped 17.9 percent to $20.6 billion. Chinese TV firms took bigger hits during the COVID-19 pandemic, while LG and Samsung saw smaller drops.